S&P 500
7,401.00
+0.91%
Dow Jones
49,665.70
+0.19%
Nasdaq 100
29,241.00
+2.43%
Russell 2000
2,860.88
+0.82%
FTSE 100
10,263.70
+0.48%
Nikkei 225
63,767.70
+2.68%

Media

GameStop Profit, Sales Fall on Lack of New Games

Photo of 247sam
By 247sam Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
GameStop Corp.’s (NYSE: GME) second-quarter earnings and sales fell as the lack of new game releases led to software and hardware declines.

GameStop’s second-quarter earnings were $21 million, or $0.16 a share, down from $30.9 million, or $0.22 a share in the year-ago period. Wall St. was expecting $0.15 per share earnings, according to data compiled by Reuters.

Revenue of $1.55 billion for the quarter was down from $1.74 billion a year ago. Analysts were anticipated sales of $1.61 billion. Sales of preowned games declined 11.2%.

“We continue to see solid sales growth as well as strong margins in our new retail offerings and digital channels,” CEO Paul Raines said in a statement. “We are focused on staying ahead of the curve as the competitive landscape evolves and we manage through the trough of the console cycle.”

Shares of GameStop are fractionally to $17.15 in premarket trading. The 52-week range is $15.32 to $26.66.

Samuel Weigley

Photo of 247sam
About the Author 247sam →

Continue Reading

Why GameStop Earnings Didn’t Live Up to Expectations
Chris Lange |

Why GameStop Earnings Didn’t Live Up to Expectations

GameStop reported its most recent earnings results after the markets closed on Thursday and the company watched its shares sink…

cgblaine22 |

GameStop Kills Video Game Sector Growth Expectations

Shares of video-game retailer GameStop slumped Tuesday after the company unexpectedly reported lower-than-expected holiday sales and cut its guidance for…

Jon C. Ogg |

GameStop Warning, Delivers Coal in the Holiday Stockings

courtesy GameStop Corp.GameStop Corp. (NYSE: GME) is showing that some hot video games did not exactly translate into the great…

Did GameStop Sales Show Too Much Holiday Discounting?
Jon C. Ogg |

Did GameStop Sales Show Too Much Holiday Discounting?

On a day when stocks are trying to bounce from such a monumental sell-off, you might assume that GameStop would…

How GameStop Comps and Guidance Shot Down Solid Earnings
Chris Lange |

How GameStop Comps and Guidance Shot Down Solid Earnings

GameStop reported better-than-expected fiscal first-quarter financial results after the markets closed on Thursday.

GameStop Is Cautiously Optimistic Despite Earnings Flop
Chris Lange |

GameStop Is Cautiously Optimistic Despite Earnings Flop

GameStop reported its most recent quarterly results after the markets closed on Tuesday.

CEO Says GameStop Is a ‘Much Healthier Business’ Today as Shares Up 29% YTD
247patrick |

CEO Says GameStop Is a ‘Much Healthier Business’ Today as Shares Up 29% YTD

Its CEO claims GameStop is in a “much healthier” business position compared to the start of 2021.

GameStop Sinks Despite Beating Earnings
Chris Lange |

GameStop Sinks Despite Beating Earnings

Its shares fell after GameStop reported its fiscal first-quarter financial results after the markets closed on Thursday.

Paul Ausick |

GameStop Earnings Jump on Margin Growth; Fiscal Year Forecast Raised

GameStop reported better-than-expected second-quarter 2015 results after markets closed on Thursday.

Top Gaining Stocks

Akamai
AKAM • Vol: 21,556,944
Micron Technology
MU • Vol: 65,135,624
Intel
INTC • Vol: 227,504,426
Monster Beverage
MNST • Vol: 15,284,847
Dell Technologies
DELL • Vol: 12,167,525

Top Losing Stocks

Mettler Toledo International
MTD • Vol: 539,266
Motorola Solutions
MSI • Vol: 3,101,643
Expedia
EXPE • Vol: 4,189,786
Coterra Energy
CTRA • Vol: 73,319,495
Fidelity National Information Services
FIS • Vol: 11,468,820